Binance has launched Binance Jersey, a new exchange which makes it possible to trade cryptocurrencies like bitcoins (BTC) and ethers (ETH) for euros (EUR) and pounds sterling (GBP) in Europe and the UK. The new exchange Binance.je is launched on the island of Jersey, where the first regulated BTC fund in the world was established back in 2014. The target is the European market.
“Expanding the cryptocurrency exchange markets with fiat currencies in the European region is opening new economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern. Through Binance Jersey, we want to help bridge the crypto-fiat channel for Europe and the U.K. as part of our global expansion to support broader cryptocurrency adoption,” – Wei Zhou, Binance’s CFO, said.
They believe in Binance that Jersey will turn into a major driving force in the sphere of crypto in Europe.
“Jersey has in place an existing legal and regulatory framework for cryptocurrency into which Binance Jersey easily fits. Jersey is an undisputed pioneer in blockchain development leveraged by this strong framework and talent pool. Binance Jersey hopes to increase Jersey’s competitive advantage in banking from other jurisdictions competing for cryptocurrency-related business as the island’s cryptocurrency regulation allows,” – Zhou added.
In June 2018, Binance partnered with Digital Jersey to develop the initiatives aimed at supporting the growing ecosystem. Binance Jersey is the part of these joint efforts too.
The trading pairs available include BTC/GBP, ETH/GBP, BTC/EUR and ETH/EUR. Customers will be allowed to trade upon passing KYC verification on www.binance.je.
Users can learn more about how to trade on the new exchange here: https://support.binance.je/hc/en-us/categories/360001213232-FAQ